AGNC Investment prices $300 million depositary shares offering

BETHESDA, Md. - AGNC Investment Corp. (NASDAQ:AGNC), a $10.34 billion market cap mortgage REIT currently trading at $9.95 per share, has priced a public offering of 12 million depositary shares at $25.00 each, raising $300 million in gross proceeds before deducting underwriting discounts and expenses.

Each depositary share represents a 1/1,000th interest in a share of the company’s 8.75% Series H Fixed-Rate Cumulative Redeemable Preferred Stock. The company has granted underwriters a 30-day option to purchase up to an additional 1.8 million shares to cover overallotments.

AGNC plans to list the depositary shares on the Nasdaq Global Select Market under the symbol "AGNCZ." The offering is expected to close around September 10, 2025.

The company intends to use the net proceeds to finance the acquisition of Agency securities, non-Agency securities, other real estate-related assets, hedging instruments, and for general corporate purposes.

Morgan Stanley, Goldman Sachs, J.P. Morgan, RBC Capital Markets, UBS, Wells Fargo Securities, Citigroup, and Keefe, Bruyette & Woods are serving as joint book-running managers for the offering, with Barclays Capital acting as co-manager.

AGNC Investment Corp., founded in 2008, is an investor in Agency residential mortgage-backed securities that are guaranteed against credit losses by Fannie Mae, Freddie Mac, or Ginnie Mae. The company stands out for its impressive 14.75% dividend yield and has maintained dividend payments for 18 consecutive years, according to InvestingPro data, which offers comprehensive analysis of over 1,400 US stocks.

The offering is being conducted under AGNC’s existing shelf registration statement filed with the Securities and Exchange Commission, according to the company’s press release statement. InvestingPro analysis indicates AGNC maintains a GOOD overall financial health score, though investors should note that short-term obligations exceed liquid assets. For detailed metrics and 8 additional ProTips about AGNC’s financial position, explore the full InvestingPro Research Report.

In other recent news, AGNC Investment Corp. reported a comprehensive loss of $0.13 per common share for the second quarter of 2025. The company experienced a negative economic return on tangible common equity of 1%. Despite these setbacks, AGNC declared dividends of $0.36 per common share and maintained a strong liquidity position. The company’s tangible net book value per share saw a slight decline, but its market capitalization remained significant at over $8 billion. These developments indicate challenges in economic return, yet the company’s liquidity and market cap highlight its resilience. Investors may find it noteworthy that AGNC continues to prioritize shareholder returns through dividends. This information is part of the recent developments surrounding AGNC Investment Corp.

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